The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1887-10-20
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L H. Is
Co., in their weekly review Of trade,
say: In spite of the mainly favorable
conditions noted last week, prices are
not advanced. The Treasury added
$50, 000, 600 to the circulation in Septem-
Der, and had added about $4,000, 900
since, and the Baltimore & Ohio bar
gain has been ratified, and the Reading
reorganization insured, yet prices OF
stocks fell on Wednesday to
an average of $5S.T per snare,
the lowest since April and May 1885,
and, excepting after few weeks then,
the lowest for two years; Wheat has Ia
lost every advance since September %,
corn for 8 fortnight past, and oats for
month past, have occasionally risen.
only to recede again. Cotton has de-
clined 4 of q cent during the month,
and pork 81 per barrel. Oh is higher,
but the transactions are insignificant.
Coal is stronger, because of strike,
but iron and steel lower. The elabo-
rate statements OF exchange for the
past year and quarter only conceal
the fact that of late exchanges have
been falling behind those of last year,
first at New York and then
at the other chief cities and New
England manufacturing towns, in
short, the story that more money
insures prosperity comes to grief
again. More than S207 600 600 have
been added to circulation within the
past fourteen months, but the specula-
ton thus stimulated has wrought much
harm already, and clouded the future
with doubt. While great activity and
expansion are witnessed in some
branches of business, others exhibit
symptoms of reaction. Steel rails are
again lower. Sales were made last
week for $34 spring delivery, and
some makers are urging a general stop
continues scarce, because Of the
Lehigh coal strike, but lower quota
tons come for grey forge, and also for
bar iron. Export statements of the
exports in September, show that of
breadstuffs, cotton, provision and cat
tie, the values was per cent. greater
than in 1885. A large decrease appears
in wheat, but there is noteworthy in
crease in -four. OF cattle and pork, ex-
some loss in butter, cheese and oil, but
gain of 90, SAC, 600 in the exports of
cotton. This months exports from
New York show gain Of q per cent,
against an increase Of 10 per
cent. in imports. Exchange
has advanced this week be-
csuse of the large sales Of stocks on
foreign account, and the controlling
question in the money market now is
whether the passing OF a dividend by
the Baltimore g. Ohio, and other events
will so discourage foreign holders OF Sc
curities as to cause extensive selling.
But 81 JOG, 600 more gold arrived Thurs
day. Interior reports are uniformly
more favorable, though light money
and slow connections are still reported
from some points. The pressure IN
most cases is less severe, and collect
ions rather better. In Texas, where
cent below last years, failures
are more numerous, and many
traders are asking indulgence,
but east of Missippi money
is generally easier at the South. A
partial failure of the crops is as yet
hardly recognized as a cause of dis
turbance in the Northwest. If actual
losses of the farmers are as large as the
October Bureau Report would indicate,
however, some shrinkage In the value
of business must result.
The dry goods trade though rather
less active has been fairly satisfactory
in volume, with prices well maintain
ed, though print cloths are shade
lower.
The shrinkage in wool manufactures
appears in the reported sales of wool at
bOSCCQ, WHICH were Z1iOOOSUOV pOuuuS
for the three months ending October /,
against IS, 200, 900 pounds for same
month last year, but the supplies on
hand at the beginning of the period
may explain part of the decrease.
The boot and shoe business is active
and healthy, and the leather business
at last improves In some localities. at
the West where speculation began early
last fall mortgages begin to ripen, and
prices are no longer maintained, while
bankers decline loans On real estate
security but the building of new rail-
roads and towns and manufacturing
centers still continues. The business
failures in the last seven days number
for the United States 1872, and for Can
ada 20 on q total 2O2, compared with
PIP last week and 179 for the CORES
bonding week last wear.